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global. the more things change the more they stay the same. >> it's like football, right. nobody likes the refs until they make a call that helpers on hurts their team. moody's been slammed over the housing and m.f. and everything else, they still control a large part of the debt market and the world debt market as to how much people will have to pay on the ratings. before i go, pay attention to china and india. i know everyone is focused on, those are the countries that are supposed to lifta all boats. don't lose sieft europe, china and india, may be the next shoes to watch. >> brian, "the wall street journal" article this weekend talked about how you're starting to see some investors betting against china. >> and money might come here, guys. i've been bullish on the u.s. for two months because it's going hurt us, but we're starting to see more capital already flow here. we're the cleanest, dirty shirt in the bag of laundry. >> thank you. >> thank you, brian. >>> next, howard cosell's legacy. >> i think i'm the only black or white that's wise enough to match wits with you
global. the more things change the more they stay the same. >> it's like football, right. nobody likes the refs until they make a call that helpers on hurts their team. moody's been slammed over the housing and m.f. and everything else, they still control a large part of the debt market and the world debt market as to how much people will have to pay on the ratings. before i go, pay attention to china and india. i know everyone is focused on, those are the countries that are supposed to...
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Dec 9, 2011
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global. corzine was c.e.o. of the now bankrupt company that had more than a billion dollars of clients' money go missing. his appearance before the house agriculture committee was the first time he's spoken publicly since the firm went bankrupt. >> i simply do not know where the money is or why the accounts have not been reconciled to date. i apologize both personally and on behalf of the company to our customers, our employees, and our investors. i truly know they are bearing the brunt of the impact of our firm's bankruptcy. >> sreenivasan: corzine said he felt obligated to testify as a former member of congress, even though he could have invoked his right to silence. this was the first time in over 100 years congress has subpoenaed a former u.s. senator. senate republicans blocked president obama's nominee to a new consumer watchdog agency today. richard cordray did not receive enough votes to move forward toward confirmation. the consumer financial protection bureau was created in the wake of the 2008 financ
global. corzine was c.e.o. of the now bankrupt company that had more than a billion dollars of clients' money go missing. his appearance before the house agriculture committee was the first time he's spoken publicly since the firm went bankrupt. >> i simply do not know where the money is or why the accounts have not been reconciled to date. i apologize both personally and on behalf of the company to our customers, our employees, and our investors. i truly know they are bearing the brunt...
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Dec 26, 2011
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m.f. global but there's new reports he hasn't returned all of it. then think you've seen bad karaoke like cameron diaz in "my best friend's wedding"? >> ♪ don't know just what to do with myself ♪ >> think again. one guy walked off the stage in handcuffs. it's the perfect time to find great deals on the 4g lte devices you love. like the droid bionic by motorola for $199.99. or the pantech breakout for $49.99. our lowest price ever. get the technology you love, on the network you deserve. and for a limited time, get twice the data for the same low price. verizon. >> welcome back, everybody. >> welcome back, the day after christmas. christmas has come and gone so quickly. >> it does happen. it's the cookie high. >> you had quite a few, i heard. >> absolutely. for lunch, actually. there's an interesting story we want to tell you about this morning about karaoke. over the holidays parties, there's always cakaraoke. >> we took a break from the karaoke. >> it always ends up like "my best frie
m.f. global but there's new reports he hasn't returned all of it. then think you've seen bad karaoke like cameron diaz in "my best friend's wedding"? >> ♪ don't know just what to do with myself ♪ >> think again. one guy walked off the stage in handcuffs. it's the perfect time to find great deals on the 4g lte devices you love. like the droid bionic by motorola for $199.99. or the pantech breakout for $49.99. our lowest price ever. get the technology you love, on the...
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Dec 13, 2011
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. >> susie: here's what we're watching for tomorrow: former m.f. global c.e.o. jon corzine is back on capitol hill facing questions from the senate agricultural committee about missing client money. also tomorrow, manpower issues its hiring outlook for next year and the federal reserve hosts its last policy meeting of the year. we'll find out what ben bernanke and other fed policymakers say about the economy. the justice department's challenge to the $39 billion merger of at&t and t-mobile is on hold. >> or whether to give up on the merger all together this that comes after a fed ral judge ruled today to put the justice's departments challenge to the merger on hold, the judge wants eight to deliver a status report by mid-january that specifically states if it plans to fight for the deal. >> tom: in an unprecedented move the securities and exchange commission is going after the agency that ensures investor brokerage accounts in the u.s. the suit against the securities investor protection corporation known as the sipc is an effort to repay victims of an alleged $7
. >> susie: here's what we're watching for tomorrow: former m.f. global c.e.o. jon corzine is back on capitol hill facing questions from the senate agricultural committee about missing client money. also tomorrow, manpower issues its hiring outlook for next year and the federal reserve hosts its last policy meeting of the year. we'll find out what ben bernanke and other fed policymakers say about the economy. the justice department's challenge to the $39 billion merger of at&t and...
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. >> susie: the missing money still can't be located at m.f. global, but many customers of the bankrupt firm will soon be getting some of their money back. the judge overseeing the firm's bankruptcy today approved the return of $2.2 billion to clients. the move comes one day after former c.e.o. jon corzine told lawmakers he didn't know what happened to millions of dollars in customer money that's still missing. lots of money ghooing the market, as we said this european bill rallied. >> as he said down 200 points yesterday, up 200 point today, we will wait over the weekend but certainly optimism today. we'll roll with today's market focus. are thanks to some optimism from europe, we some some relief buying of u.s. stocks. stocks were poised for some gains from the opening bell. this is today's activity with the dow jones industrial average-- the dow finishing higher by 1.5%. today's gain helped pull the index positive for the week, the second straight week of gains. the dow was up four sessions, but even with the sell-off yesterday, it's 1.4% hi
. >> susie: the missing money still can't be located at m.f. global, but many customers of the bankrupt firm will soon be getting some of their money back. the judge overseeing the firm's bankruptcy today approved the return of $2.2 billion to clients. the move comes one day after former c.e.o. jon corzine told lawmakers he didn't know what happened to millions of dollars in customer money that's still missing. lots of money ghooing the market, as we said this european bill rallied....
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. >> tom: a congressional panel today subpoenaed former m.f. global chairman jon corzine. he's being compelled to testify before a house agricultural committee hearing next thursday. the committee wants answers on the m.f. global's sudden collapse into bankruptcy in late october. corzine is a former u.s. senator, governor of new jersey and c.e.o. of goldman sachs. he has also been asked to appear before the senate ag committee in mid-december. >> susie: ten years ago today, enron filed for bankruptcy. the once powerful energy firm came crashing down in the wake of a massive accounting scandal. our guest tonight is the woman who exposed that fraud: sherron watkins. she was enron's vice president for corporate development and warned enron's top executives that there were misstatements and otr shenanigans in the company's financial reports. known as "enron's whistleblower," watkins was selected by "time" magazine as one of its "persons of the year" cover in 2002. as we continue our series "enron-- 10 years later," we talk with sherron watkins. sherron, thank you so much for j
. >> tom: a congressional panel today subpoenaed former m.f. global chairman jon corzine. he's being compelled to testify before a house agricultural committee hearing next thursday. the committee wants answers on the m.f. global's sudden collapse into bankruptcy in late october. corzine is a former u.s. senator, governor of new jersey and c.e.o. of goldman sachs. he has also been asked to appear before the senate ag committee in mid-december. >> susie: ten years ago today, enron...
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former m.f. global chief democrat jon corzine and two executives will testify again today that they don't know what happened to more than a billion dollars in customers money. that cash vanished when the brokerage firm collapsed. and verizon apologizing for sending a text message to thousands of customers in new jersey telling them to take shelter! turns out verizon forgot to say it was a test of the 911 system. oops! brian? >> eight years ago today, steve, without firing a single shot, u.s. forces finally captured one of the most feared dictators in the world. >> december 13th at around 8:30 p.m., baghdad time, united states military forces captured saddam hussein alive. >> our next guest commanded a task force that was involved in the arrest of the iraqi leader. he led them there. joining us is the author of this re-released book "we got em" lieutenant colonel russell. >> thank you. good to be back. >> what do you remember about that day? who was the one man indispensable in getting us saddam b
former m.f. global chief democrat jon corzine and two executives will testify again today that they don't know what happened to more than a billion dollars in customers money. that cash vanished when the brokerage firm collapsed. and verizon apologizing for sending a text message to thousands of customers in new jersey telling them to take shelter! turns out verizon forgot to say it was a test of the 911 system. oops! brian? >> eight years ago today, steve, without firing a single shot,...
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still ahead, another day in the hot seat on capitol hill for former m.f. global c.e.o. jon corzine, with more details about missing client money. >> susie: improvement on the jobs front helped stocks move higher. weekly jobless claims fell by 19,000 to their lowest level since may of 2008 with 366,000 workers filing initial claims. that encouraging trend supported stock-- the dow rose 45 points, the nasdaq added just over a point, and the s&p 500 rose nearly four. but despite that positive jobs news, brace yourself for another year of a weak economy and maybe a recession. that's the 2012 forecast from bank of america merrill lynch. here are the highlights: the investment firm expects global economic growth of 3.5%, but here in the u.s., the economy will be weaker, growing less than 2%. and there's a 40% chance of recession in the u.s., and they're predicting a deep recession in europe. the u.s. unemployment rate will stay around 9%, and oil prices will be above $100 a barrel. one of the economists who drafted that report joins us now-- michelle meyer, senior u.s. econom
still ahead, another day in the hot seat on capitol hill for former m.f. global c.e.o. jon corzine, with more details about missing client money. >> susie: improvement on the jobs front helped stocks move higher. weekly jobless claims fell by 19,000 to their lowest level since may of 2008 with 366,000 workers filing initial claims. that encouraging trend supported stock-- the dow rose 45 points, the nasdaq added just over a point, and the s&p 500 rose nearly four. but despite that...
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of m.f. global to testify on thursday. no word yet on whether he will answer questions or assert his fifth amendment rights. darren gersh, "nightly business report," washington. >> susie: a debate is heating up over insider trading in congress. the house financial services committee heard testimony on a bill today that would stop lawmakers from trading based on non-public information they learn on capitol hill. the bill would also impose new disclosure requirements on lawmakers and their staff members. but the securities and exchange commission enforcement director warns if lawmakers go too far with the new rules, it could have unintended consequences outside of washington. >> in light of existing insider trading legal precedent, any statutory changes in this area should be carefully calibrated so that they do not narrow current law and therefore make it more difficult to bring federal trading actions against individuals outside of congress. >> susie: right now, lawmakers are subject to the same rules on insider trading as
of m.f. global to testify on thursday. no word yet on whether he will answer questions or assert his fifth amendment rights. darren gersh, "nightly business report," washington. >> susie: a debate is heating up over insider trading in congress. the house financial services committee heard testimony on a bill today that would stop lawmakers from trading based on non-public information they learn on capitol hill. the bill would also impose new disclosure requirements on lawmakers...
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"devastated"-- that's how former m.f. global c.e.o. jon corzine describes his reaction to the collapse of the commodity brokerage firm. susie, under hard questioning before a congressional panel, corzine said he did not know what happened to over $1 billion dollars in customer funds. >> susie: tom, the former senator also said he never intended to break any rules, and he denied using his political clout as a former u.s. senator to win special consideration for m.f. global. >> tom: the star witness defended his decision to invest in risky european debt, blaming the firm's collapse on a loss of market confidence. darren gersh picks up the story. >> reporter: jon corzine is not the first c.e.o. to explain before congress why his company failed, but he is the first former governor and u.s. senator in more than 100 years to testify under subpoena. his voice subdued, corzine offered his side of the story. >> i apologize both personally and on behalf of the company to our customers, our employees, and our investors. i truly know they are bear
"devastated"-- that's how former m.f. global c.e.o. jon corzine describes his reaction to the collapse of the commodity brokerage firm. susie, under hard questioning before a congressional panel, corzine said he did not know what happened to over $1 billion dollars in customer funds. >> susie: tom, the former senator also said he never intended to break any rules, and he denied using his political clout as a former u.s. senator to win special consideration for m.f. global....
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global employc 2inst jon bufina@ncial nococ ndreitc io2nr tomorrow:arterly results from rv rothers.pvelbu@ also tpv yo@uth fonootc barellc a2 @noc rec 2 how pop warner has weathered a weak economy and how ipvelbu@pv. pvelbu according topvelbu@noc re@noc ru said they plan to tafromqv selpo about four in ten shoppeelbu@ rec ho2li, highlighting that ti@ c refrc ug2al. about the miami 2 to buy bonds to build a investigators wantqvelbu qvelbu@no stadium, with the city abu$645@. they issued bonds to help pay for qvel thqvelbu@ with the investigation, buqvelb2 nts @to shanorpc lyre rc ed2uces proces at the announcement anddrop a letter in the mail deliver it in one rvtoel t but the service now hopes that @ rec >>2 got more cap@noc rec 2 got to make ad @noc rec 2buf its @487 manoilc e daverec 2or the post office.he u masvilel.bu@no aost a 30% drop 2 mail hit back in 2001.2020, he e >> the economys th@e lastno cc f years, but the other more loc l2 lly, if you looked at rec billisvonel obuf@nond we h .noc rec 2vice wants the public offering up a period.tvelbu while tvelbu@l,tv ael ybuear.@n2 but an
global employc 2inst jon bufina@ncial nococ ndreitc io2nr tomorrow:arterly results from rv rothers.pvelbu@ also tpv yo@uth fonootc barellc a2 @noc rec 2 how pop warner has weathered a weak economy and how ipvelbu@pv. pvelbu according topvelbu@noc re@noc ru said they plan to tafromqv selpo about four in ten shoppeelbu@ rec ho2li, highlighting that ti@ c refrc ug2al. about the miami 2 to buy bonds to build a investigators wantqvelbu qvelbu@no stadium, with the city abu$645@. they issued bonds to...
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of m.f. global. that company had a spectacular collapse around halloween. lots of mistakes to go along with there. in fact, prosecutors are still sorting it out here. but this guy was a public policy leader as a senator former governor and also a business leader, at least up until the last couple of months. >> he created, past tense, a culture that was very heavily focused on risk taking. the irony is that despite that, in a post-2008 financial crisis world you have to expect the regulators to kick the tires more than they did a few years ago and they did and corzine should have been smart enough to know that was a very high-probability event that would happen. >> tom: a list of mistakes, some spectacular, some forgettable and regrettable. sydney finkelstein is with us, a business professor at dartmouth. >> susie: that's "nightly business report" for thursday, december 29. i'm susie gharib. good night, everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: captioning sponsored by wpbt captioned by media acce
of m.f. global. that company had a spectacular collapse around halloween. lots of mistakes to go along with there. in fact, prosecutors are still sorting it out here. but this guy was a public policy leader as a senator former governor and also a business leader, at least up until the last couple of months. >> he created, past tense, a culture that was very heavily focused on risk taking. the irony is that despite that, in a post-2008 financial crisis world you have to expect the...
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. >> reporter: the m.f. global scandal could also weigh on the commodities market next year. the firm's bankruptcy and missing customer funds could make some investors jittery about pouring money into the market. diane eastabrook, "nightly business report," chicago. >> susie: still ahead, apple's former chief evangelist gives us his outlook for technology in 2012. he's guy kawasaki. more discouraging news today about the housing market-- the standard and poor's case-shiller home price index showed prices in october were down over 3% from the same time a year ago. sylvia hall reports. >> reporter: across the country and with few exceptions, home prices dropped in october. the closely watched index tracks residential property values in 20 cities. it fell 3.4% in october as home prices dropped in 18 of those 20 cities from the year before. >> altogether, home prices have not hit bottom and these numbers have not started to rebound. >> reporter: atlanta led the decline with annual returns down almost 12% from last year. blitzer blamed poor consumer confidence and the low cost of
. >> reporter: the m.f. global scandal could also weigh on the commodities market next year. the firm's bankruptcy and missing customer funds could make some investors jittery about pouring money into the market. diane eastabrook, "nightly business report," chicago. >> susie: still ahead, apple's former chief evangelist gives us his outlook for technology in 2012. he's guy kawasaki. more discouraging news today about the housing market-- the standard and poor's...
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. >> in terms of distancing themselves from m.f. global, that's as far as they go. "the new york post" reporting they're holding on to $150,000 in contributions tied to the bankrupt firm. stuart varney is here to break it all down. nice to see you. >> good morning. >> that money that was given back quietly or at least reported on friday night, there's still money hanging out there. does this hurt the president or leave more questions unanswered? >> i think the president wanted to leave this behind in 2011. wants to march into 2012 with a clean slate so they tried the dump of the news item late on the friday, the friday before christmas. but as "the post" points out, there's still a lot of money with the democrats and with the obama campaign that came from m.f. global. and that's going to come back in the new year, the scandal continues in the new year. specifically, there are several leading executives, top executives of m.f. global who maxed out in contributions to the democrats and to president obama. $150,000, that's not yet being given back and there's another $
. >> in terms of distancing themselves from m.f. global, that's as far as they go. "the new york post" reporting they're holding on to $150,000 in contributions tied to the bankrupt firm. stuart varney is here to break it all down. nice to see you. >> good morning. >> that money that was given back quietly or at least reported on friday night, there's still money hanging out there. does this hurt the president or leave more questions unanswered? >> i think the...
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and finally, $200 million, the amount of money m.f. global transferred to a company account at j.p. morgan chase three days before it filed for bankruptcy protection. i'm going to move on this story. steve? >> that sounds kind of fishy. thank you, brian. here come the p.c. police! we told you about this story yesterday. a 14-year-old missouri boy with down's syndrome suspended from school for five days for allegedly sexually harassing a school bus aide. but the little boy's mom says the charges are outrageous and that her son was just hugging. joining us from st. louis is that boy's mother, good morning to you, tonya. >> good morning. >> and joining us here in the studio is fox news legal analyst peter johnson jr. who brought us this story yesterday. tonya, it's been alleged that your son sexually harassed the bus aide but you say look, he has down's syndrome. he was hugging. he hugs everybody. right? >> well, the biggest thing is when it occurred before, the hug had happened, the thing is that the bus driver had actually thrown off his routine. and overshot the house and was joking
and finally, $200 million, the amount of money m.f. global transferred to a company account at j.p. morgan chase three days before it filed for bankruptcy protection. i'm going to move on this story. steve? >> that sounds kind of fishy. thank you, brian. here come the p.c. police! we told you about this story yesterday. a 14-year-old missouri boy with down's syndrome suspended from school for five days for allegedly sexually harassing a school bus aide. but the little boy's mom says the...
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global. the senate agriculture committee wanted to know who authorized the use of that money for trades in the days before the company collapsed. corzine told lawmakers it wasn't him. >> i never directed anyone at m.f. global to misuse customer funds. i never intended to, and as far as i'm concerned, i never gave instructions that anybody could misconstrue. >> susie: but the head of the c.m.e. group, terry duffy, told lawmakers later he believes corzine knew about at least one transfer of customer money-- a $175 million loan to a european affiliate. >> susie: despite all the hoopla this holiday season, retail sales were subdued in november. they rose only two tenths of a percent, much less than analysts were expecting and well below the gains in october. erika miller takes a closer look at what this could mean for the nation's retailers. >> reporter: even frigid temperatures couldn't deter these madison avenue shoppers from waiting to get into stores today. but plenty of others are opting to
global. the senate agriculture committee wanted to know who authorized the use of that money for trades in the days before the company collapsed. corzine told lawmakers it wasn't him. >> i never directed anyone at m.f. global to misuse customer funds. i never intended to, and as far as i'm concerned, i never gave instructions that anybody could misconstrue. >> susie: but the head of the c.m.e. group, terry duffy, told lawmakers later he believes corzine knew about at least one...
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senator jon corzine who, today, testified about the spectacular implosion of m.f. global. the brokerage firm he chaired until last month. as you may recall he he resigned days after mf global went bankrupt. with it $1.2 billion in customer money. customers, including farmers who now reportedly cannot even buy seed and small businesses whose assets are now said to be frozen. investigators saying that money is likely gone for good. lawmakers today making it very clear they are not happy. >> you can sir tell us today that while you have been the head of this organization mf global that you always did the right thing when no one was looking? >> i understand the position that you are in, but, mr. corzine, we have got to find that money. >> are you and other executives of your company willing to stand the loss with your personal fortune. >> harris: but then when asked where that money is corzine offered somewhat of an apology. >> i remain deeply concerned about the impact that the unreconciled and frozen funds have on mf global's customers and others. i simply do not know where
senator jon corzine who, today, testified about the spectacular implosion of m.f. global. the brokerage firm he chaired until last month. as you may recall he he resigned days after mf global went bankrupt. with it $1.2 billion in customer money. customers, including farmers who now reportedly cannot even buy seed and small businesses whose assets are now said to be frozen. investigators saying that money is likely gone for good. lawmakers today making it very clear they are not happy. >>...
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global rule." it's named after the collapsed brokerage firm that's believed to have improperly used hundreds of millions of dollars of customer money. the new rules limit how the brokerage industry can invest client funds and stops firms from using customer money to buy foreign sovereign debt. separately today, two former m.f. global employees filed a class-action lawsuit against jon corzine-- the firm's former c.e.o.-- and other senior executives. the suit says they lied to employees about the firm's financial condition. here's what we're watching for tomorrow: quarterly results from retailers pep boys and men's warehouse, along with luxury homebuilder toll brothers. also tomorrow, it's the largest youth football and cheerleader program in the world. "beyond the scoreboard" looks at how pop warner has weathered a weak economy and how it's stayed in business for more than 80 years. you may see fewer cars at the mall this weekend. more than a third of u.s. shoppers are already done with most of thei
global rule." it's named after the collapsed brokerage firm that's believed to have improperly used hundreds of millions of dollars of customer money. the new rules limit how the brokerage industry can invest client funds and stops firms from using customer money to buy foreign sovereign debt. separately today, two former m.f. global employees filed a class-action lawsuit against jon corzine-- the firm's former c.e.o.-- and other senior executives. the suit says they lied to employees...
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2vwahly euinto r@isky inonvc e >> at picions, but we really is hard to say what happenedys t during m.f. global's last da because thousandavs hlofeu transactions in the hleuleadin@g up the books in a mess.avinhle eusaid h@e wan avhly understanding is bvhleuf the marketplace.bvhleu@2 >> reporter: t trustee hopes bvhlroughly 70% ou @ norly to tell for surebvhleu@ with thehington.@noc rec 2 he now heads up the securitiesbu c re@noc rec 2rec 2w@ firmno noc ou go missing>> youbvhleu @ responsible for2 that had funds strategy of thebvhleu accl rec ybody to determinecvhleu@no 2@noc rec 2 cvhleu@cvhleu@noc r n hleuing.cv nocvhleu@noc reto the extenteu2 are going to be disappointed bee room. whcvathleu@ about corzinecvhleu about@noc rec 2c 2 he decision tocvhleu businesscvhlet bankrupt the shortfall customer accountdvs eu anxchange.dvhl app@noc rec 2n case thereis a . companies th@noc rec 2 european debtc 2 that eu@noc rec 2c rec 2 theeu r.dvh regulatory teu mfev ghlloeubalot missed. failureevevhleu@evhleu2 th going evmyhleu@noc rec is thatto@noc2 and then backu @uto b@enoc a lot to bereeinc g 2
2vwahly euinto r@isky inonvc e >> at picions, but we really is hard to say what happenedys t during m.f. global's last da because thousandavs hlofeu transactions in the hleuleadin@g up the books in a mess.avinhle eusaid h@e wan avhly understanding is bvhleuf the marketplace.bvhleu@2 >> reporter: t trustee hopes bvhlroughly 70% ou @ norly to tell for surebvhleu@ with thehington.@noc rec 2 he now heads up the securitiesbu c re@noc rec 2rec 2w@ firmno noc ou go missing>>...
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i never intended anyone at m.f. global to misuse customer funds. >> a financial exchange executive testified that corzine knew $175 million of his customers' money was being improperly transferred out of the firm a week before it went bankrupt. oops! >> he just doesn't know where to put a billion dollars. it happens to all of us. a wrong turn landed one police officer up a pole. yep, it happened in miami, florida, the officer apparently dropped his pen and took his eyes off the road to get it. that's when he swerved and drove his car right up the light pole and the officer walked away unharmed. however, he knocked out power to the entire community. >> oh, my! >> an army vet turned baptist pastor never thought his military training would come in handy in his church life but he was wrong. the pastor was relaxing at home when he spotted someone throwing a rock into the church's window and crawling inside. he ran to the church and found the burglar and wrestled him to the ground. >> then i pulled him up and we went back
i never intended anyone at m.f. global to misuse customer funds. >> a financial exchange executive testified that corzine knew $175 million of his customers' money was being improperly transferred out of the firm a week before it went bankrupt. oops! >> he just doesn't know where to put a billion dollars. it happens to all of us. a wrong turn landed one police officer up a pole. yep, it happened in miami, florida, the officer apparently dropped his pen and took his eyes off the road...
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Dec 7, 2011
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former m.f. global boss jon corzine wanted for questioning in washington. former democratic senator and governor from new jersey in the congressional hot seat tomorrow and today, the house financial services committee is expected to slap him with the third subpoena. congress wants to know what happened to more than a billion dollars in customers' money that went missing. we will have to see if corzine will actually testify or plead the fifth. the justice department warning alabama police not to discriminate against latinos as they enforce the state's tough new immigration law. the head of the department of justice's civil rights division sent a letter to 156 police agencies saying they could lose their federal funding if they discriminate. the new law allows alabama police to arrest illegal immigrants. a close call for students in tacoma, washington when their bus driver falls asleep at the wheel right in the middle of a busy highway. look at one very alert student thankfully who jumps into action. >> you all right? >> no. >> the 65-year-old driver now on a
former m.f. global boss jon corzine wanted for questioning in washington. former democratic senator and governor from new jersey in the congressional hot seat tomorrow and today, the house financial services committee is expected to slap him with the third subpoena. congress wants to know what happened to more than a billion dollars in customers' money that went missing. we will have to see if corzine will actually testify or plead the fifth. the justice department warning alabama police not to...
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Dec 9, 2011
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it was m.f. global. >> reporter: farmers use firms like m.f. global to hold money they need as collateral for future purchases of supplies, crops and livestock. federal law requires these accounts be held separate from the money firms use for investing. many farmers thought this arrangement was as safe as their local bank. in this case, it wasn't. farms are missing millions of dollars. some are now having trouble paying for seeds to plant in the spring. hocher believes his operation will be able to weather this disaster, but worries about some of his neighbors. >> a lot of operations may not be able to stand whatever the loss might be. if it's not a risk you're expecting, how do you protect yourself from it? >> reporter: so if you could run into jon corzine today, what would you say to him? >> it would be a bad day for jon corzine. he reporter: there are plenty of others in this part of the country who feel the same way. investigators estimate at best farms can only expect to recover 60% of their money. cynthia bowers, cbs news, washington, iow
it was m.f. global. >> reporter: farmers use firms like m.f. global to hold money they need as collateral for future purchases of supplies, crops and livestock. federal law requires these accounts be held separate from the money firms use for investing. many farmers thought this arrangement was as safe as their local bank. in this case, it wasn't. farms are missing millions of dollars. some are now having trouble paying for seeds to plant in the spring. hocher believes his operation will...
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as proof, he points to the collapse of m.f. global and the 2008 financial crisis. >> the whole meltdown back in '08, it's a different risk analysis that you're looking at there, but it didn't prevent any of those companies from going through those problems. >> reporter: but a recent review by the securities and exchange commission found the costs of complying with the law is fairly small and has come down in the last four years. in addition, the s.e.c. says the rules does not chase companies offshore as the critics argue. supporters of sarbanes oxley say rather than relaxing corporate rules, they should be tighter, calling it all too easy to mislead investors with faulty financial reports. >> it's been very slow, though, and it's been very disappointing. in terms of how little has been accomplished, how little we seemed to have learned from enron and m.c.i., worldcom and the global financial crisis of 2008. >> reporter: regulators say exempting more companies from sarbanes-oxley will not save enough money to justify the increas
as proof, he points to the collapse of m.f. global and the 2008 financial crisis. >> the whole meltdown back in '08, it's a different risk analysis that you're looking at there, but it didn't prevent any of those companies from going through those problems. >> reporter: but a recent review by the securities and exchange commission found the costs of complying with the law is fairly small and has come down in the last four years. in addition, the s.e.c. says the rules does not chase...
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it doesn't appear as though he is going to take responsibility for his company, m.f. global's implosion. >> reporter: he has released a draft of his opening statement, and it's really an extraordinary comedown for a guy who was the head of goldman sachs, who was the senator, who was a governor, and now has presided over this megafinancial disaster. most people in his circumstances would take the fifth. there's a victim nal investigation going on, but i guess he didn't want to take that much humiliation so he is simply in a very general way denying any wrongdoing, explaining the investigation is continuing but he's not saying much about the specifics of what happened. >> okay. let's turn now, and we'll watch and see what happens when he does testify. let's turn now to eric holder. fast and furious. there are those who are calling for eric holder to resign over this, jeffrey. is he fighting for his job here? is that likely to happen? might he have to resign? >> reporter: at this point, i don't see any possibility that eric holder is going to resign. this was an investig
it doesn't appear as though he is going to take responsibility for his company, m.f. global's implosion. >> reporter: he has released a draft of his opening statement, and it's really an extraordinary comedown for a guy who was the head of goldman sachs, who was the senator, who was a governor, and now has presided over this megafinancial disaster. most people in his circumstances would take the fifth. there's a victim nal investigation going on, but i guess he didn't want to take that...
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Dec 15, 2011
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. >> former m.f. global chief jon corzine back in the congressional hot seat today. he's testifying before the house financial services committee. it's his third capitol hill grilling in a week. former democratic governor and senator from new jersey unable to explain what happened to more than a billion dollars of his customers' money that's now missing. a quick thinking wisconsin man and a police officer teaming up to save a woman's life and the whole thing caught on dash cam. jeff smolinski was on his way to work when he noticed a minivan smash into a pole and catch fire. the driver unconscious. he pulled over but couldn't get the van's doors open. that's when the officer arrived smashing out the car's window. >> any other officer at this department would have done the same thing. i happened to be the first one on scene and i got the call. >> don't leave yet. my heart is beating so fast, i might need a ride. >> well, that woman that they saved expected to be just fine. what would you do it in that scenario? i have some friends that had almost the exact scenario a c
. >> former m.f. global chief jon corzine back in the congressional hot seat today. he's testifying before the house financial services committee. it's his third capitol hill grilling in a week. former democratic governor and senator from new jersey unable to explain what happened to more than a billion dollars of his customers' money that's now missing. a quick thinking wisconsin man and a police officer teaming up to save a woman's life and the whole thing caught on dash cam. jeff...
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Dec 8, 2011
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former m.f. global chief jon corzine reportedly taking the fifth, refusing to answer questions in the congressional hot seat later today. sources say the former democrat governor from new jersey is only expected to make a brief statement and then clam up. and a kennedy may want to jump into barney frank's congressional seat. joseph kennedy iii says he may run when frank retires next year. kennedy is the son of former congressman joe kennedy and the grandson of late senator robert f. kennedy. all right, gretch, over to you. >> thank you, steve. he's just 24 years old but broncos quarterback tim tebow is in the media's cross hairs. why? many are criticizing tebow's public display of faith. he's a christian. but our next guest says if tim tebow were a muslim, attacks on him would not be tolerated. jennifer floyd ingall is a columnist for foxsports.com. interesting analogy. how did you come up with it? >> i started to think about it. it hit me that if tim tebow were doing things to honor his muslim f
former m.f. global chief jon corzine reportedly taking the fifth, refusing to answer questions in the congressional hot seat later today. sources say the former democrat governor from new jersey is only expected to make a brief statement and then clam up. and a kennedy may want to jump into barney frank's congressional seat. joseph kennedy iii says he may run when frank retires next year. kennedy is the son of former congressman joe kennedy and the grandson of late senator robert f. kennedy....
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global. the firm m.f. global. that committee has jurisdiction over the type of commodity trading the firm was engaged in. $1.2 billion may be missing from customer accounts. m.f. global was led by former senator and governor jon corzine. he resigned shortly after the firm filed for bankruptcy protection. record spending over the black friday weekend prompted strong november sales reports today from major retailers. americans spent almost $52.5 billion over the four day period. stock were mixed today after wednesday's big gains. the dow lost 26. the s&p 500 gave back two. the nasdaq added six. newt gingrich is finding out what it's like to be the front runner the g.o.p. presidential race. he is or soon will be targeted for negative attacks. negative ads. chief political correspondent carl cameron takes a look. >> mitt romney is stepping it up in iowa with the first tv ad. it's positive. he will be attacking newt gingrich soon, but for now he is promoting himself. >> the right answer for america is start growth of p
global. the firm m.f. global. that committee has jurisdiction over the type of commodity trading the firm was engaged in. $1.2 billion may be missing from customer accounts. m.f. global was led by former senator and governor jon corzine. he resigned shortly after the firm filed for bankruptcy protection. record spending over the black friday weekend prompted strong november sales reports today from major retailers. americans spent almost $52.5 billion over the four day period. stock were mixed...
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>> then you know about jon corzine's failed firm, m.f. global. did you know the former democratic governor has a connection to a former u.s. president? >> it's not grant! >> looks like him. [ male announcer ] cranberry juice? wake up! ♪ that's good morning, veggie style. hmmm [ male announcer ] for half the calories -- plus veggie nutrition. could've had a v8. i'm a wife, i'm a mom... and chantix worked for me. it's a medication i could take and still smoke, while it built up in my system. [ male announcer ] along with support, chantiis proven to help people quit smoking. it reduthe urge to smoke. some people had changes in behavior, thinking orood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these, stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reactioto it. if you deve
>> then you know about jon corzine's failed firm, m.f. global. did you know the former democratic governor has a connection to a former u.s. president? >> it's not grant! >> looks like him. [ male announcer ] cranberry juice? wake up! ♪ that's good morning, veggie style. hmmm [ male announcer ] for half the calories -- plus veggie nutrition. could've had a v8. i'm a wife, i'm a mom... and chantix worked for me. it's a medication i could take and still smoke, while it built...
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and that it's been made clear that if corzine or any other m.f. global employees are charged with wrongdoing, their contributions will be returned. mary snow, cnn, new york. >>> after a long and excruciating wait, a rape victim jailed in afghanistan is now free thanks in part to our over thes here at cnn. she's speaking out about what really happened. we're going to offing to get the story. >>> plus, have you seen this, the new build prague jekt that's bringing back memories of 9/1e6789 multi-policy discount. paperless discount. paid-in-full discount. [yawning] homeowner's discount. safe driver discount. chipmunk family reunion. someone stole the nuts. squirrel jail. justice! countless discounts. now that's progressive. call or click today. >>> hezbollah claiming it has exposed the identities of ten cia officers. brian todd is looking into this story for us. what you are finding out? >> some experts including a former cia officer we spoke with believe this is now a full-fledged covert war between the u.s. and hezbollah and by extension with iran.
and that it's been made clear that if corzine or any other m.f. global employees are charged with wrongdoing, their contributions will be returned. mary snow, cnn, new york. >>> after a long and excruciating wait, a rape victim jailed in afghanistan is now free thanks in part to our over thes here at cnn. she's speaking out about what really happened. we're going to offing to get the story. >>> plus, have you seen this, the new build prague jekt that's bringing back memories...
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Dec 9, 2011
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global customers and others. i simply do not know where the money is or why the accounts have not been reconciled to date. >> doesn't know where the money is, david. >> i'm thinking the voters of new jersey probably don't have buyer's remorse. politically this is one more hammer for the republicans. the things usually don't amount to much because the voters understand that democratic rundraisers big shotsbe and republican fundraisers are big shots sometimes go astray. it's not everybody's fault for being associated with them. this does get to how everybody looks at washington and a big mess. it adds to the perception. >> i agree with that. there is a staff for corzine above all, also the political class. this drives the public crazy. senator, governor, revving door and wall street and enormous collapse. he doesn't know hundreds of millions or as much as $1.2 billion. i understand losing your wallet. but losing $1.2 billion, you should track some of that. >> bret: does it put a cramp in the administration's and th
global customers and others. i simply do not know where the money is or why the accounts have not been reconciled to date. >> doesn't know where the money is, david. >> i'm thinking the voters of new jersey probably don't have buyer's remorse. politically this is one more hammer for the republicans. the things usually don't amount to much because the voters understand that democratic rundraisers big shotsbe and republican fundraisers are big shots sometimes go astray. it's not...